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Step 1
Preheat oven to 325°F. Prepare a large bundt pan with butter and flour or by spraying with non-stick spray. (My 10-inch bundt pan is 3 inches deep. There should be at least 1½ inches between the height of the batter and the top edge of the pan.)
Step 2
In the bowl of a stand mixer fitted with the paddle attachment, combine cream cheese and butter until smooth (about 3 minutes).
Step 3
Gradually add the sugar and mix until light and fluffy.
Step 4
Add the eggs, one at a time, mixing well after each addition, followed by the vanilla.
Step 5
Slowly add the cake flour and mix until combined.
Step 6
Remove bowl from stand mixer and pour in the buttermilk. Mix by hand until just incorporated. Use a rubber spatula to scrape the sides of the bowl to get every last bit of ingredient incorporated.
Step 7
Pour batter into prepared bundt pan. Bake for 1 hour to 1 hour and 20 minutes. Check for doneness at 1 hour. (The cake is done when a toothpick inserted into the center of the cake comes out with a few crumbs, but no wet batter.) The crust will be a dark golden brown around the edges and lighter in the center.
Step 8
Allow cake to cool to room temperature. Dust with confectioners' sugar before serving.